General Journal options: Salaries expense Income tax payable Accounts payable FI
ID: 2475177 • Letter: G
Question
General Journal options:
Salaries expense
Income tax payable
Accounts payable
FICA tax payable
Payroll tax payable
Unemployment tax payable
Salaries payable
Cash
During January, Deluxe Printing pays employee salaries of $.88 million. Withholdings in January are $77,000 for the employee portion of FICA, $220,000 for federal and state income tax, and S30.000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional S48,000 for federal and state unemployment tax and $20,000 for the employer portion of health insurance. Record the employee salary expense, withholdings, and salaries payable. (Enter your answers in dollars, not in millions. Omit the "$" sign in your response.) Record the employer-provided fringe benefits. (Enter your answers in dollars, not in millions. Omit the "$" sign in your response.) Date Jan. 31 (Click to select} (Click to select) General Journal b B Debit Credit Record the employer payroll taxes. (Enters your answers in dollars, not in millions. Omit the "$" sign in your response.)Explanation / Answer
Answer 1. Journal Entry Date Particulars Dr Amt Cr. Amt Jan-31 Salary Expense Dr. 880,000 To FICA Tax Payable 77,000 To Income Tax Payable 220,000 To Accounts Payable 30,000 To Salaries Payable 553,000 Answer 2. Journal Entry Date Particulars Dr Amt Cr. Amt Jan-31 Salary Expense Dr. 20,000 To Accounts Payable 20,000 Answer 3. Journal Entry Date Particulars Dr Amt Cr. Amt Jan-31 Payroll Taxe Payable Dr. 125,000 To Unemployment Tax Payable 48,000 To FICA Tax Payable 77,000
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